Why is Suryaamba Spinni falling/rising?
As of 23-Sep, Suryaamba Spinning Mills Ltd's stock price is Rs 137.10, down 2.14%, and has declined 6.96% over the last three days. The stock is trading below all major moving averages and has underperformed significantly compared to the Sensex, with a year-to-date decline of 13.20%.
As of 23-Sep, Suryaamba Spinning Mills Ltd is experiencing a decline in its stock price, currently at Rs 137.10, which reflects a decrease of Rs 3.0 or 2.14%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 6.96% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The delivery volume has also significantly decreased, falling by 86.47% compared to the 5-day average, suggesting a lack of investor interest. The stock's year-to-date performance shows a decline of 13.20%, contrasting sharply with the Sensex's gain of 5.07%, further highlighting its struggles.In the broader market context, Suryaamba Spinning Mills Ltd has underperformed relative to the benchmark index, with a 1-week return of -1.90% compared to the Sensex's -0.34%. Over the past month, the stock has declined by 2.21%, while the Sensex has increased by 0.98%. This trend of underperformance is consistent over longer periods, with the stock down 14.31% over the past year versus the Sensex's decline of only 3.33%. The significant disparity in performance suggests that broader market conditions may be favoring other sectors or stocks, contributing to the ongoing decline in Suryaamba's stock price.
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